Air Canada Reach Agreement on Allocation of Aircraft

5 March 2004

Air Canada, Air Canada Jazz, ACPA and
ALPA have issued the following statement:A tentative settlement was reached late today on the subject of
allocation of aircraft between Air Canada, Air Canada Jazz, the Air Canada
Pilots Association (ACPA) and the Airline Pilots Association (ALPA).

Details will be released after all parties have ratified. It is expected
that the ratification will be completed no later than March 19,2004.